Israel Economic Sentiment December 2015

Israel: BoI State of the Economy index declines in December

January 24, 2016

In December, the Bank of Israel (BoI) Composite State of the Economy index increased 0.22% over the previous month, which was down from the 0.28% increase observed in November. According to the Bank, the index in December was positively impacted by an increase in the industrial production sub-index.

On an annual basis, the State of the Economy index rose 3.0% in December, which marked a deterioration over the 3.2% increase observed in November. The annual average variation in the index inched up from 2.9% in November to 3.0% in December, thus hitting the highest level in nearly two years.

FocusEconomics Consensus Forecast panelists foresee the economy growing 2.5% in 2016, which is down 0.1 percentage points from last month’s estimate. For 2017, the panel projects that the economy will expand 3.1%.